3/20/17 recap

+$ 2,108 today!!  Traded just two stocks: ESPR and AUPH.

I am super proud of how I traded ESPR today.  This stock had big range and it would be easy to get ran over on it.  I kept my size very small (500 share blocks), took profits on pulls, and then would add to my core.  I even did a good job staying patient on taking gains and letting price action guide my profit taking.  I never let greed get the best of me on this.  It would have been easy to add a bunch more but I wanted to keep my average in a good place so I could play a push to 38.  Trading it this way today allowed me to stay calm and make better decisions.  I almost did not trade it due to the range, but I told myself if I stayed disciplined and controlled my size I would be just fine.  Before I would have never trusted my ability to stay disciplined on a trade like this, but my progress in that area gave me confidence.  I started in small at 36.  I added at 37 and took 1/2 off on the pull to 35.8.  I did this to allow me to add to a core if it pushed to 38.  I never had that push this AM so I added again on the second re-test and fail of the high 36’s.  I took 1/2 again on the Adam F negative tweet and added that 1/2 back on the pop.  At this point my average was my risk level.  I took off 1/2 again on the pull below VWAP.  I wanted to take the rest off on a test of the low 34’s but it never got that low this AM.  It held the 34.40’s a bunch of times so I went ahead and took the rest off.  +$1,738 on this trade playing just small size!  I have never traded around a core like a did today and it worked well. I have been watching Nate at investors underground trade like this for some time now so I decided to give it a try.  I will have to continue to work on trading like that as it worked well.

AUPH, honesty I hate this stock!  It is tricky and it is expensive to borrow.  I kept watching it push higher and higher, but once it hit 9.20 with volume I just could not resist trading it any longer.  I went in short and covered 1/2 on the first pull.  I wanted lower but given this stocks trickiness, I simply did not trust it so I did not stay patient on the rest of my position.  That turned out to be a mistake as it did finally break the 8.90’s and would have hit my final profit target if 8.80.  Still a decent profit on a small position.

 

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